ICG announces the acquisition of Australian real estate debt investor Newground Capital Partners

ntermediate Capital Group (ICG), the global alternative asset manager, announces it has acquired Newground Capital Partners (Newground) an Australian real estate debt investor.

Newground is an arranger, investor, and manager of real estate financing solutions in the Australian mid-market, investing across the capital structure, with offices in Brisbane, Sydney, and Melbourne. The team of seven led by Daniel Erez has closed 30+ transactions, deployed more than A$200m of capital and currently manages investments on behalf of over 100 clients, largely Australian-based.

Trading as ICG-Newground, the business will leverage the strength of ICG’s balance sheet and its institutional LP base to underwrite loans of $30m – $200m offering more flexible terms and gearing to owners of value-add, stabilised and construction assets. The business will launch an institutionally focused fund in Q3 of this year to capitalise on the growing interest in real estate debt amongst Australian investors.

Commenting on the transaction, Martin Wheeler, Co-Head of ICG’s real estate business, said “We are excited about the acquisition of Newground, which is a further positive step in the growth of ICG’s real estate strategy and footprint in Australia. We are looking forward to working with such an entrepreneurial management team to realise the attractive opportunities in the Australian real estate market.”

Martin added “Dan and the Newground team share our investment philosophy and the deal builds upon our track record of hiring and retaining the best talent and helping them develop and grow a leading franchise.”

Daniel Erez who joins as Head of Real Estate Australia and New Zealand said, “The Newground team is delighted to be joining ICG. We are looking forward to combining our deep experience of investing in Australian real estate, and benefitting from ICG’s breadth of, experience, rigorous investment culture and its institutional investment management infrastructure”.

Greg Fendler, Managing Director and Head of Institutional Clients, Australia and New Zealand said, “The acquisition of Newground is a natural extension of ICG’s differentiated real estate platform and enhances our offering to local clients and potential investors. It’s been a pleasure to work with Dan and Martin on this transaction and I look forward to building a successful real estate business in Australia and New Zealand together.”

-Ends-

 

For further details please contact:

Olivia Montgomery

Corporate Communications
Tel: +44 (0)203 545 1543
Mobile: +44 (0)7812 045188
Email: olivia.montgomery@icgam.com

About ICG

ICG provides capital to help companies grow. We are a global alternative asset manager with over 30 years’ history, managing €47.2bn of assets in private debt, credit, and equity, principally in closed-end funds.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We operate across four strategic asset classes: corporate, capital market, real asset, and secondary investments. In addition to growing existing strategies, we innovate and pioneer new strategies where the market opportunity exists.

ICG’s real estate division has over €4.9bn of private debt and private equity assets under management in its core strategies of Senior Debt, Partnership Capital (providing whole loans, mezzanine, and preferred equity), Residential Development Finance and Sale and Leaseback.

ICG is listed on the London Stock Exchange (ticker symbol: ICP).

Further details are available at: www.icgam.com. You can follow ICG on LinkedIn.

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KKR and TIGA Investments to Acquire The Executive Centre

KKR

Investment to enhance TEC’s position as one of the leading premium flexible workspace providers across the fast-growing economies of Asia Pacific and the Middle East, with more than 32,000 members in 32 cities

HONG KONG & SINGAPORE–(BUSINESS WIRE)– The Executive Centre (“TEC” or the “Company”), KKR and TIGA Investments today announced the signing of definitive agreements under which a consortium led by KKR and TIGA Investments will acquire TEC.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210531005344/en/

The Executive Centre is the leading provider of premium flexible office space solutions in markets including Greater China, North Asia, Southeast Asia, Australia, India, Sri Lanka, and the Middle East. The Company has expanded rapidly across Asia Pacific since it was founded in 1994, fueled by steady demand for premium workspace in prime, central locations from its client base of leading MNCs. It now serves more than 32,000 members across over 150 centers in 32 cities and 14 markets, including Greater China, Japan, South Korea, Southeast Asia, Australia, India, Sri Lanka, and the Middle East, with an annual turnover in excess of US$237 million. The Executive Centre’s offerings include high-quality enterprise solutions, premium private offices, coworking and virtual spaces, each equipped with meeting & event facilities, and a broad range of full IT support and corporate concierge services.

As part of the transaction, funds advised by HPEF Capital Partners and CVC Capital Partners will exit their investments in the Company. Members of TEC’s management team will continue to own shares in the Company.

Paul Salnikow, founder and CEO of The Executive Centre stated, “We are pleased to welcome KKR and TIGA Investments to The Executive Centre as our new investors. It’s a powerful partnership, well matched to drive the continued performance and growth of TEC. I also extend a big thank you to HPEF Capital Partners and CVC Capital Partners for their investment tenure, during which we increased the size of the business, sevenfold.”

SJ Lim, a Managing Director at KKR, added, “As we look ahead to the market’s evolving needs, flexibility will be key in companies’ future workplace strategies. We believe The Executive Centre is well placed to capture new growth opportunities and build on its longstanding leadership position in Asia’s premium workspace segment. KKR is excited to support The Executive Centre, Paul and his team at this exciting time for the market.”

“We are thrilled to invest in the growth of The Executive Centre alongside KKR,” said G. Raymond Zage III, Founder of TIGA. “As the future of work increasingly shifts towards a hybrid model, we look forward to partnering with Paul and his team and helping to elevate the company to its next phase of growth for the benefit of businesses, tenants and landlords across the region.”

KKR makes its investment through its investment funds. Additional details of the transaction were not disclosed.

About The Executive Centre

The Executive Centre (TEC) was founded by Paul Salnikow, in 1994 in Hong Kong and today serves over 32,000 members daily across 150+ centres in 32 cities and 14 markets. TEC is Asia’s third largest flexible office space with annual turnover in excess of US$237 million.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organization to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organizations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business’ needs.

For more information please contact Pebble_Lee@ExecutiveCentre.com or visit www.executivecentre.com

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About TIGA Investments

TIGA Investments (TIGA) is a Singapore based company focused on making long-term investments in differentiated businesses with strong management teams. TIGA brings its deep global relationships, extensive industry expertise and agility in decision making to help businesses achieve their maximum potential. TIGA is also the sponsor of TIGA Acquisition Corp, an NYSE listed special purpose acquisition company. TIGA is led by G. Raymond Zage, III and Ashish Gupta, who have more than 46 years of combined investment experience.

Media:
For The Executive Centre
Chelsea Perino
+852 9103 7236
Chelsea_perino@executivecentre.com

For KKR
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

For KKR Americas
Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

For TIGA Investments
Diana Luo
dluo@tigainvestments.com

Source: KKR

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EQT Exeter and Grupo Moraval form EUR 500m joint venture to deliver portfolio of purpose-built student accommodation assets in Spain

eqt
  • EQT Exeter, the global real estate solutions provider, and Group Moraval, a leading Spanish developer, have formed a joint venture to create a portfolio of high-quality, sustainable and affordable student accommodation facilities in Spain
  • The joint venture has already secured two initial sites in Seville and Málaga comprising approximately 1,500 beds and is actively working on a strong pipeline of future opportunities
  • The joint venture constitutes EQT Exeter’s first investment in Spain and combines its ‘business to consumer’ strategy, which is focused on taking advantage of demographic changes occurring across Europe, and its social impact approach to value creation

EQT Exeter is pleased to announce that the EQT Real Estate II fund (“EQT Exeter”) has launched a joint venture (the “JV”) with Grupo Moraval (“Grupo Moraval”), a leading Spanish developer with an approximate 30 percent market share of the “purpose-built student accommodation” (“PBSA”) facilities that have been or are currently being developed in Spain between 2020 and 2022. The JV is expected to have an initial capacity to establish an investment portfolio valued at over EUR 300 million and has aspirations to ultimately grow the portfolio to a value in excess of EUR 500 million.

The student housing market in Spain has experienced rapid growth due to favorable demographic trends such as a steadily growing population of 18-24-year-olds and an increase of young people pursuing higher education. Despite this, many of the country’s university cities suffer from a lack of high-quality student housing with large groups of young people in need of accommodation. The population of people within this age group has increased consistently since the 2015/2016 academic year at a compound annual growth rate of 5.7 percent1.

The JV will focus on delivering a portfolio of PBSA facilities in Spanish cities with growing student housing demand and a relatively low percentage of the respective city’s students who can be accommodated under currently available student housing, also referred to as the provision rate. An example of this is Málaga, where the educational offering is expected to grow even further as the municipality recently offered public land for the establishment of two new universities. Through Grupo Moraval’s in-house market intelligence platform that analyzes the need for student accommodation in university cities across Spain together with EQT’s digitization team, the JV expects it will be able to identify important market trends and future housing demand in an efficient and concise fashion.

The JV’s two initial sites in Seville and Málaga comprise approximately 1,150 and 350 beds, respectively. Located next to two of University of Sevilla’s largest campuses, Pirotecnia and Ramón y Cajal, the Seville site is also within walking distance to the main faculties and the city center and next to the San Bernardo public transportation hub. The Málaga site will be located in the University of Málaga Teatinos campus and is within walking distance to the main faculties and to the public transportation hub which provides easy access to the city center. Construction of the Seville site has already commenced and is expected to be finished by the beginning of the 2022/2023 academic year while the Málaga site is currently anticipated to be delivered by the beginning of the 2024/2025 academic year.

The JV’s assets will be let at market-rate rents under the newly created “Nodis” brand. Nodis expects to embody strong values of dynamism, vitality and safety in its operations. As such, the residences will be equipped with state-of-the-art facilities, high-quality amenities and premium services including but not limited to gyms, private lounges, living and gaming areas, libraries, work and study spaces, cinemas, parking, free high-speed internet and rooftop terraces.

Consistent with other EQT Exeter transactions, the JV’s assets will be developed with strong sustainability credentials and seek to achieve green certifications such as LEED (Leadership in Energy and Environmental Design) and GRESB (Global ESG Benchmark for Real Assets). The buildings will promote sustainable living practices and utilize photovoltaic panels on the roof, provide electric vehicle charging stations and spaces for carpool vehicles, use native or adapted plants which don’t require a permanent irrigation system and employ high efficiency- low consumption fixtures and fittings.

Carlos Molero, Managing Director, Investment Advisor to EQT Exeter, said, “We are excited to enter the Spanish student housing market alongside market leader Grupo Moraval. This joint venture is an excellent example of EQT Exeter’s ‘local with locals’ approach of sourcing attractive opportunities and investing in thematic trends which are decoupled from the financial cycle. We see a clear opportunity to deliver a portfolio of high social impact, purpose-built student accommodation in Spanish cities which are experiencing a supply-demand imbalance. In addition to the joint venture’s initial sites in Seville and Málaga, we are evaluating a growing pipeline of projects to build a large-scale, resilient and downside-protected portfolio.”

Rob Rackind, Partner and Investment Advisor to EQT Exeter, said, “This joint venture with Grupo Moraval marks a landmark entrance into Spain for EQT Exeter. It is an example of our ‘business to consumer’ efforts which are focused on taking advantage of the demographic transformations that are occurring across Europe. This strategy is manifesting itself through the delivery of over 8,000 beds across Europe over the next few years via a number of additional platforms that we have established. These include the delivery of a GBP 1bn+ private rented residential portfolio in Greater London, a EUR 400m+ mobility-impaired rental housing portfolio across France and a EUR 300m senior care portfolio in Northern Italy, all of which are expected to benefit from continued favorable supply-demand dynamics, urbanization and population growth.”

Alvaro Soto, CEO of Grupo Moraval, said, “Grupo Moraval is delighted to partner with EQT Exeter, which is well-known for its hands-on value creation strategies, in this ambitious project. Together, we will aim to further advance the purpose-built student housing offering in one of the most dynamic and fastest-growing higher education markets in Europe. Students both nationally and internationally are increasingly seeking tailored, cost-efficient housing options and EQT Exeter and Moraval share the same vision on how to build and manage sustainable and digitally innovative accommodation for this segment.”

Berta Guillamón, Chief Marketing Officer of Nodis, said, “Nodis student residences will be aligned with today’s youth: dynamic, vibrant and with a spirit of self-improvement. With a team experienced in managing accommodation for students, Nodis creates spaces to live, learn and create new connections in an enriching and creative environment with sustainability at its core.”

1Source: JLL, “Student Housing: From Consolidation to Institutionalization” (2020).

Contacts
EQT Exeter media enquiries:
UK: Greenbrook, eqt@greenbrookpr.com, +44 20 7952 2000
Spain: Grupo Albion, Maribel Alonso, malonso@grupoalbion.net, +34 91 531 23 88
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

Grupo Moraval media enquiries:
Christopher Bjork, christopher.bjork@bjork-brown.com, +34 60 639 60 93

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About EQT Exeter
EQT Exeter, a part of EQT, is a global real estate solutions provider serving both consumer and tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world and is focused on acquiring, developing and managing logistics / industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of EQT Real Estate and Exeter Property Group.

The EQT Exeter Team comprises around 260 experienced professionals, including investment and leasing officers, asset managers and operational professionals, operating in close to 40 regional offices around the globe. Collectively they have consummated over 830 real estate investments. As part of EQT, the team has access to the full EQT Network including more than 500 industry advisors across the globe as well as the EQT’s industry-leading sustainability credentials and framework, and in-house digitalization skills.

About Grupo Moraval
Grupo Moraval is the leading developer of student residences in Spain with a portfolio of around 6,600 beds representing investment volume of EUR 300 million and located in Madrid, Barcelona, Málaga, Bilbao, San Sebastian, Pamplona, Salamanca, Seville and Zaragoza. It pioneered new models of accommodation for students and co-living spaces over the past decade together with leading institutional and private wealth investors. With a track record of over 400,000 sqm developed in real assets of different kinds, Grupo Moraval specializes in the design and execution of state-of-the-art accommodation focusing on new technologies and student welfare. Committed to continuous improvement, its developments introduce innovations in areas such as sustainability and digitalization.

About Nodis
Nodis is a newly created brand which embodies the strong values of dynamism, vitality and sustainability, allowing its residents to lead the lifestyle they are looking for and offering residences with state-of-the-art facilities in a completely safe environment: fully equipped studios, common areas cared for down to the last detail, gym, private lounges, living areas, gaming area, library, work and study spaces, cinema, parking and more.

More info: www.nodis.es


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EQT Public Value enters irrevocable undertaking to accept Palace Bidco’s Tender Offer for Adapteo at a 53 percent bid premium

eqt

EQT is today announcing that the EQT Public Value Fund (“EQT Public Value”) has signed an irrevocable undertaking to accept the Tender Offer made today through Palace Bidco Oy by West Street Global Infrastructure Partners IV, L.P., an infrastructure fund managed by Goldman Sachs Asset Management for the shares in Adapteo Plc (“Adapteo”).

The price amounts to SEK 165.0 per Adapteo share, representing a 53 percent bid premium compared to the closing price per 14 May 2021, the last day of trading prior to the Tender Offer announcement, and a 66 percent premium to the volume-weighted average trading price of the Adapteo share during the six-month period prior and up to the announcement of the Tender Offer.

The offer is the result of a competitive process driven by the Adapteo board of directors with support from EQT Public Value as the largest owner of Adapteo with 17.6 percent of the shares. Furthermore, the attractive valuation implied by the offer reflects Adapteo’s market leading position within Northern European social infrastructure, its leading ESG position as well as the long-term attractiveness and future potential in both Adapteo and the industry.

Commenting on the Tender Offer, Niklas Ringby, Partner and Co-Head of the EQT Public Value advisory team, said:

“With EQT Public Value as the largest shareholder and Peter Nilsson as the chairman, Adapteo became an independent company through the successful spin-off from Cramo in 2019. Adapteo has during the last two and a half years more than doubled revenues and EBITDA, through organic growth and the three strategic acquisitions of Nordic Modular Group, Stord Innkvartering and Dutch Cabin Group. Today, Adapteo is a leader in the essential social infrastructure sector in Northern Europe with a leading ESG profile through the provision of flexible, reusable and low-carbon footprint modular space solutions”.

Niklas Ringby continues: “EQT Public Value has supported the board of directors in creating a competitive process including relevant European infrastructure funds with long-term investment horizons, attracted by Adapteo’s strong infrastructure characteristics. After several rounds of indicative bids, this has ultimately resulted in Palace Bidco launching an offer representing a 53 percent bid premium. We believe the offer is an attractive opportunity for Adapteo’s shareholders to crystallize their investment in the company at a compelling valuation and significant premium.”

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT and EQT Public Value
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

EQT Public Value targets publicly listed mid-market companies in Northern Europe, applying a constructivist approach intended to create value through board representation and hands-on engagement leveraging EQT resources and platform.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram


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KKR Expands Industrial Real Estate Footprint in Tampa with New Acquisition

KKR

May 3, 2021

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of a 178,400 square foot industrial property in Tampa, Florida.

The asset is located in a highly infill location in East Tampa, approximately fifteen minutes from Tampa’s vibrant downtown, and was newly built in 2020 with state-of-the-art physical features including 32’ clear height. The property was 100% leased at acquisition to three tenants.

The acquisition expands KKR’s industrial real estate footprint in the greater Tampa market to 1.4 million square feet.

“We are long term believers in Florida’s continued growth story,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “The demographic growth in Tampa in particular has been impressive and we are delighted to add this well located, high quality asset to our portfolio.”

KKR is making the investment through its Americas opportunistic equity real estate strategy. Across its funds, KKR owns nearly 34 million square feet of industrial property in strategic locations across major metropolitan areas in the U.S.

Since launching a dedicated real estate platform in 2011, KKR has grown its real estate assets under management to approximately $28 billion across the U.S., Europe and Asia Pacific as of December 31, 2020 (pro forma to include Global Atlantic’s assets following KKR’s acquisition of Global Atlantic on February 1, 2021). KKR’s global real estate team consists of approximately 100 dedicated investment professionals, spanning both the equity and credit business, across 11 offices and eight countries.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
Cara Major or Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

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Ardian Real Estate acquires Frankfurt office building, “Westendcarree”, from Publity

Ardian

Frankfurt am Main, 28 April 2021 – Ardian, a world leading private investment house, has signed an agreement with publity AG for the acquisition of the office building “WestendCarree” (at Grueneburgweg 14, 16-18 and Im Trutz 55) in Frankfurt am Main. The acquisition marks Ardian Real Estate’s sixth investment in Germany. The parties have agreed not to disclose financial details of the transaction.

Built in 1989, the office complex was last renovated in 2010 and spreads across five to eight stories, with around 31,000 square meters of rental space available. The property is situated in Frankfurt’s prestigious Westend district within proximity to a host of shops, restaurants and parks. The property is located downtown and well connected via four commuter rail and underground stations – with both the Alte Oper and the financial district within a short walking distance.

The building complex, is fully air-conditioned and grouped around green interior courtyards. It offers 300 parking spaces and the modular design enables all widely used office space utilization metrics. The occupancy rate currently stands at 86 percent, and a large share of the rental agreements are up for renewal over the next few years. Ardian Real Estate intends to undertake extensive upgrading measures, to achieve sustainability certification, redesign common areas, signage system and outdoor facilities.

Bernd Haggenmüller, Senior Managing Director Real Estate at Ardian and responsible for the real estate investment in Germany, said: “Investments in office space across the top seven cities in Germany remain very attractive. It seems clear that a turning point in the take-up rate for office space is emerging in Frankfurt. Now, market forecasts predict that by the end of the year this figure will have grown by over 30%, compared to last year’s figure. We can see a further increase in demand on the market as tenants no longer want to delay their decisions, and growing numbers of companies have redefined their future workplace concepts.”

He added: “We are pleased to adapt the amenities of the WestendCarree to offer state-of-the-art office space configurations and working conditions.. Our work will continue to focus on taking into account current ESG criteria and requirements resulting from the coronavirus pandemic. In view of this initial situation and outlook, we are very pleased with the acquisition of WestendCarree as a very attractive property in a market with a very tight supply.”

Photo-CP-Real-Estate-Frankfurt
©publity AG

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$110bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

COMPANIES INVOLVED IN THE TRANSACTION

The transaction was advised by buyers Herbert Smith Freehills (legal), taxes (taxes), x. Project (technology) and CBRE (market). The seller’s legal adviser was White & Case. TwainTowers mediated the transaction.

PRESS CONTACT

CHARLES BARKER CORPORATE COMMUNICATIONS

Peter Steiner

+49 69 79409027

Jan P. Sefrin

+49 69 79409026

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Peter Gill appointed Partner, Head of CapMan Real Estate Denmark

CapMan Real Estate press release
7 April 2021 at 08.00 am EEST

Peter Gill appointed Partner, Head of CapMan Real Estate Denmark

Peter Gill has been appointed Head of CapMan Real Estate Denmark and promoted to Partner. He started with CapMan in 2016, before which he worked as a Director for PwC’s real estate M&A division. He has also headed the Capital Markets team at Nybolig Erhverv, one of the largest real estate brokers in Denmark. 

“Peter has been instrumental in building our real estate presence in Denmark and I am delighted to announce that he will become the Country Head for CapMan Real Estate Denmark. In addition to his duties involving transactions, he will take on responsibilities for managing the Copenhagen office,” says Mika Matikainen, Managing Partner of CapMan Real Estate.

“CapMan has been present in the Danish real estate market for more than seven years and I’m very excited about taking a more pronounced role in growing our commitment to this region. We have a strong portfolio of assets in Denmark with access to both value-add and income opportunities. The general investment sentiment in Denmark is optimistic as there is a pent-up demand for attractively located quality properties,” says Peter Gill, Partner and Head of CapMan Real Estate Denmark.

Peter is taking over the position from Torsten Bjerregaard, who will continue as Managing Partner and member of the Investment Committee.

CapMan’s Real Estate team includes over 40 Nordic professionals, of which seven are based in Copenhagen. CapMan’s current real estate volume under management is over EUR 3 billion and the team is currently investing from its third Nordic value-add real estate fund.

For further information, please contact:

Peter Gill, Partner, Head of CapMan Real Estate Denmark, tel. +45 20 43 55 63
Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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Combination with Exeter Property Group completed – introducing EQT Exeter

Following the signing of a definitive agreement as announced on 26 January 2021 to combine with Exeter Property Group (“Exeter”) (the “Transaction”), EQT AB (“EQT”) is pleased to announce that the Transaction has been completed. All necessary closing conditions, including regulatory, anti-trust and fund investor clearances, have been achieved.

As previously announced, Ward Fitzgerald, CEO and founder of Exeter, will join EQT’s Executive Committee (“ExCom”) following completion of the Transaction.

The total consideration is USD 1,870 million, and as part of the Transaction, EQT has issued 33,296,240 shares to Exeter’s selling shareholders, corresponding to dilution of approximately 3.4 percent. EQT will have 986,280,140 ordinary shares issued and outstanding following the completion of the Transaction.

Lennart Blecher, Head of EQT Real Assets and Deputy Managing Partner, said, “We are happy to announce that the combination of Exeter and EQT’s real estate businesses is complete. Together, we will create a leader in thematic value-add real estate investments, allowing EQT to scale up its existing local execution efforts while also adding a prolific single asset deal platform. On behalf of the entire ExCom, we look forward to working together with Ward to further develop our global real estate footprint.”

Ward Fitzgerald, CEO and founder of Exeter, said, “The closing marks an important milestone for the combined company and we are excited about the opportunity to develop EQT Exeter into a true global leader in real estate. Our focus remains on driving returns and we are confident that, with our shared investment approach and complementary platform in Europe, North America and Asia, we will be able to create performance for the benefit of both current and future investors and clients.”

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
Nina Nornholm, Head of Communications, +46 70 855 03 56
EQT Press Office, press@eqtpartners.com +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization solely focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has raised more than EUR 84 billion since inception and had as of December 31, 2020 more than EUR 52 billion in assets under management across 17 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 17 countries across Europe, Asia-Pacific and North America with more than 700 employees.

More info: www.eqtgroup.com and www.exeterpg.com

Follow EQT on LinkedIn, Twitter, YouTube and Instagram

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Questel acquires IP services leader Morningside

ik-investment-partners

Questel, one of the world’s largest end-to-end intellectual property solutions providers, has acquired Morningside, a leading IP and language services company.

Founded in 2000 and headquartered in New York, Morningside specializes in patent translation and foreign filing solutions as well as legal, life sciences, and corporate compliance language services. With a global presence of 250 employees, Morningside leverages its industry-leading IP Platform to help clients seamlessly reach new markets while doing more with their budget. Morningside has over 4,000 clients in 55 countries including many Global 500 companies, law firms, and regulatory bodies.

The acquisition is part of Questel’s strategy to act as a one-stop-shop for all of its clients’ IP needs. Since Morningside is one of the largest patent translation companies in the world, the acquisition consolidates Questel’s position as a leading IP translation provider. Morningside also has a major global law firm presence which will allow Questel to significantly expand and diversify its customer base.

“Morningside is an excellent fit for Questel both culturally and strategically,” said Charles Besson, Questel’s CEO. “Translation plays a critical role in providing end-to-end integrated IP solutions to our clients.”

“We are excited to become part of the Questel family,” said Tom Klein, Co-CEO of Morningside. “Our clients will benefit from the additional services, expertise and technology that Questel brings to the table.”

“The synergies here are clear,” added Co-CEO Roland Lessard. “Morningside is one of the largest patent translation providers globally and Questel is the #1 patent filer in the world. Clients of both companies will gain from this acquisition.”

During the past years, through targeted acquisitions, Questel has built the most balanced portfolio of software and tech-enabled services of the IP industry.

About Questel

Questel’s mission is to facilitate the development of innovation in an efficient, secure, and sustainable way. Questel is a true end-to-end intellectual property solutions provider to more than 20,000 clients and one million users across 30 countries. We offer a comprehensive software suite for searching, analyzing, and managing inventions and IP assets. Questel also provides services throughout the IP lifecycle, including prior art searches, patent drafting, international filing, translation, and renewals. These solutions, when combined with our IP cost management platform, deliver clients an average savings of 30-60% across the entire prosecution budget. www.questel.com

About Morningside

Morningside equips the world’s leading organizations with a full suite of end-to-end intellectual property and language solutions. With over 4,000 clients in 55 countries, Morningside is globally recognized for its subject matter expertise and technology innovation in regulated markets such as IP, legal services, life sciences, and corporate compliance. Our IP management solutions and translation services ensure your ideas seamlessly reach new markets and audiences while allowing you to do more with your budget. Global 500 companies, international law firms, and regulatory bodies all rely on Morningside as a trusted partner to make intelligent choices for their most valuable assets. www.morningtrans.com

Insight Partners has signed an agreement with IK Investment Partners, Five Arrows Principal Investments and Naxicap Partners to invest in iad

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IK Investment Partners (“IK”), Five Arrows Principal Investments (“Five Arrows”) and Naxicap Partners are delighted to announce that they have signed an agreement for Insight Partners (“Insight”) to invest in iad International (“iad” or “The Company”).

iad is Europe’s leading digital real estate broker and is redefining the real estate market in Europe with a disruptive agent-enablement model. The iad network of over 14,000 independent real estate agents, across six countries, is underpinned by a proprietary end-to-end technology platform which serves the entire transaction lifecycle from sourcing of mandates through to execution, signing and closing. Founded in 2008 and headquartered in Lieusaint, France, iad employs over 300 people and generated more than €300 million of revenue in 2020.

Since IK, Five Arrows and Naxicap Partners’ investment in 2016, iad has grown significantly to become the leading real estate network in France, and has successfully expanded into Portugal, Italy, Spain and Germany. In 2020, iad entered the Mexican market via a strategic acquisition. Annual revenue has quadrupled in the past four years.

Clement Delpirou, CEO of the iad Group, commented:“We are hugely grateful for the support from IK, Five Arrows and Naxicap over the last four and a half years. During this time, we have consolidated our position in France and embarked on a successful journey of international expansion, while developing and optimising our operations and technology. Looking forward, we are excited to add Insight Partners as an investor in iad.”

Dan Soudry and Rémi Buttiaux, Managing Partners at IK, said:“iad is exactly the type of business we take pride in partnering with. From the outset, we identified its potential to become a market leader in France and the opportunity to expand into new territories. We continue to be impressed by the Company’s entrepreneurial spirit and are excited for its long-term prospects, together with the existing and new shareholders.”

Emmanuel Roth, Co-Managing Partner, and Nicolas Robin, Managing Director, at Five Arrows Principal Investments, added: “iad is a fantastic success story. It is disrupting the real estate sector and enabling thousands of entrepreneurial agents to launch their own businesses. We are grateful to Roland Tripard, Clement Delpirou and the rest of the impressive management team who have developed an effective and scalable technology platform. We believe the Company has a strong future and look forward to continuing our journey with them and the other shareholders.”

Laurent Sallé, Director at Naxicap Partners further remarked: “iad is a great example of the type of business we have the honour of partnering with. From 2012, we have watched the Company grow from strength to strength and are pleased to have played a role in its development. We are excited to remain as an investor and have no doubt that iad will remain a significant driver for change in the real estate industry.”

Deven Parekh, Managing Director at Insight Partners, said: “Insight has invested in new, disruptive businesses in the broader real estate ecosystem and we are excited to welcome iad to that group. This experience combined with our ScaleUp operational focus will help iad continue to grow and expand its footprint both within and outside France.”

Financial terms of the transaction are not disclosed and are subject to legal and regulatory approvals.

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
Email: jmcfarlane@maitland.co.uk

Five Arrows Principal Investments
Emma Rees
Phone: +44 7703 715 763
Email: emma.rees@rothschildandco.com

Naxicap Partners
Valérie Sammut
Phone : +33 4 72 10 87 99
Email: valerie.sammut@naxicap.fr

Insight Partners
Nikki Parker
Phone: +1 571 353 4273
Email: nparker@insightpartners.com

About iad

Created in 2008, iad is a real estate network exclusively made up of independent commercial agents registered in the special register of commercial agents and whose activity is the marketing of real estate properties in a network. The DNA of iad is based on 3 pillars: real estate, the internet and network marketing. Based in Lieusaint in Seine et Marne, iad is today the leading French network of real estate agents in terms of number of advisers (Source: Meilleursreseaux.com). For more information: www.iadfrance.fr

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit: www.ikinvest.com

About Five Arrows Principal Investments

Five Arrows Principal Investments (FAPI) is the European private equity arm of Rothschild & Co’s Merchant Banking business. Merchant Banking manages over €15.7bn globally which includes approximately €3.8 billion dedicated to corporate private equity, as well as a series of funds dedicated to senior and junior credits, primary and secondary fund investing and co-investments, with offices in Paris, London, New York, Los Angeles and Luxembourg.

FAPI is focused on investing in middle-market companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong free cash flow conversion; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology-enabled business services and healthcare. For more information: www.rothschildandco.com/en/merchant-banking/corporate-private-equity

About Naxicap Partners

As one of the top private equity firms in France, Naxicap Partners – an affiliate of Natixis Investment Managers* – has €3.7 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 39 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt. For more information: www.naxicap.fr/en

About Insight Partners

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

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